Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps his Department is taking to strengthen the UK’s institutional relationships with major global sovereign wealth funds.

This government expanded the Office for Investment (OfI) including pursuing deeper investment collaboration with global sovereign wealth funds (SWFs) in support of our first Modern Industrial Strategy.

The OfI manages multi-billion-pound Sovereign and Strategic Investment Partnerships with SWFs and provides a channel for collaboration. The OfI has already facilitated multi-billion-pounds in commitments and multi-billion-pounds in capital deployed from these partners, contributing to growth and prosperity across the country.

This effort continues; The Government is sending a senior delegation to the Future Investment Initiative in Saudi Arabia later this month to strengthen ties further with Saudi and global SWFs.